Delhi-based Bioheaven360 Genotec Pvt Ltd secures 1 crore in funding from DFAN to Accelerate Growth
Bioheaven360 Genotec Pvt Ltd, a biotechnology company focused on developing next-generation diagnostics and immuno-theranostics through genomics, recombinant DNA technology, and AI, has secured INR 1 crore in funding from DFAN, a global community-backed angel network. Bioheaven360 will use this funding to expand its facility and infrastructure for the production of medical devices, as well as continue the development of its innovative state-of-the-art products.
Bioheaven360's long-term vision is to discover new cost-effective molecules for treating dreadful diseases and using AI-based data insights to enhance medical practices, predict risks early, and help people live longer healthier lives. Bioheaven360 desires to become one of the biggest biotech companies in the world. In 2023, it plans to add more products in the microbiology and molecular domain and expand its reach across India and release for testing the immuno-molecules.
Shailendra Vyas, PhD, Director of Bioheaven, said, "We are thrilled to receive this funding from DFAN, which will allow us to accelerate our growth and bring our innovative medical technologies to market and enable us to take significant steps towards achieving our long-term vision and short-term goals. We believe that our innovative approach to biotechnology will make a real difference in the lives of people suffering from critical diseases."
"As BioHeaven, a biotechnology start-up uses technology in their core business. Digital Futurists Angel Network (DFAN) has chosen to invest in this as we are part of the vision to leverage technology for effective and safe biotech. We are always looking for highly innovative, scalable solutions that can be adapted and scaled globally. With increase in infectious pathogens, complicated regulatory oversight and increased need for state of art technology for high quality products in diagnostics and therapeutics, DFAN is pleased to partner with BioHeaven that has a strong presence in the growing market," Quotes Ganesh Viswanathan Director - DFAN
In 2022, India's biotechnology industry reached a valuation of US$80.12 Bn, representing a 14% growth from the previous year. The country's bio-economy has experienced significant growth in the past decade, and the COVID-19 pandemic has further boosted the industry. The Indian biotechnology industry is poised for growth due to increased demand from both domestic and international markets. Domestic demand is boosted by initiatives such as Aatmanirbhar Bharat and Make In India, while the high efficacy of these products drives global demand for Indian vaccines and biopharmaceuticals.
India exports vaccines to over 150 countries and is a leading contract manufacturing and clinical trials location. To control healthcare costs, companies are utilizing generics and biosimilars, and India is well-positioned to provide affordable access to innovative and inclusive healthcare solutions.
India is a leading destination for bio-innovation and biomanufacturing and is considered a sunrise sector as the country aims to become a US$5 trillion economy by 2024.
Bioheaven360 is a leading biotechnology company at the forefront of medical innovation, developing technologies shaping a brighter future. The company is dedicated to improving healthcare through cutting-edge solutions with wide-ranging applications and cost-effective solutions.
With over 20 years of experience in the molecular biotechnology and in-vitro diagnostic industries, Bioheaven360 is a trusted name in the healthcare industry. The company's in-house research team is focused on identifying novel molecular markers for predictive risk assessment and pharmacogenomics-based drug targeting. It also works on CRISPR-based diagnostics, therapeutics, and vaccines for cancer, cardiovascular diseases, and infectious diseases.
About Bioheaven360 Genotec Pvt Ltd
Bioheaven360 Genotec Pvt Ltd is a Delhi-based biotechnology company pursuing scientific endeavors to develop next-generation diagnostics and immuno-therapies through Genomics, Recombinant DNA Technology, and AI for people suffering from critical diseases.
The company specializes in molecular diagnostic testing kits, media, and reagents and has over 20 years of experience in various aspects of molecular biotechnology, markers, genomics, and the IVD industry. Bioheaven360 is committed to developing cutting-edge solutions with wide-ranging applications and works with leading organizations in academia, industry, and medical hospitals. Bioheaven360 aims to provide affordable, easy-to-use solutions for rural and underserved populations.
Source: PR Newswire